My family solicitor has quoted £1350 for fixed fee conveyancing in Stilton. I’m selling a newly refurbished house for £300,000. Is this expensive? Is it in excess of the average fee for conveyancing in Stilton?
The quote is fractionally on the expensive side. If you shop around you could reduce the fees slightly by as much as £100 plus VAT. That being said, you couldcome to rue opting for an a cheaper solicitor. Remember to be sure that the solicitor can also act for your lender. You can employ our comparison tool to get a quote a Stilton conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Stilton.
three months have gone by following my purchase conveyancing in Stilton concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Stilton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Stilton
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision.
Due to the guidance of my in-laws I had a survey completed on a house in Stilton prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks tend not grant a mortgage on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stilton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stilton to see if the conveyancing will be more expensive.
I am employed by a long established estate agent office in Stilton where we have experienced a few flat sales put at risk due to short leases. I have received contradictory information from local Stilton conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a garden flat in Stilton, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar properties in Stilton with over 90 years remaining are worth £185,000. The ground rent is £65 per annum. The lease runs out on 21st October 2078
With only 60 years unexpired we estimate the premium for your lease extension to range between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.